Quirky founder Ben Kaufman describes what the iPod and Snuggie blankets have in common. Here's a hint: They both solve consumers' everyday problems. Doing so, says Kaufman, is the key to making a killer product.

Scott Hamlin, the founder of the innovative upcycling company Looptworks, shares his views on the importance of knowing who your customers will be, how you're going to distribute your product and what makes it meaningful and different.

A successful Internet entrepreneur talks about the virtues of failing fast when creating a new product or trying to do something new. Once you learn a lesson, incorporate it in your routines. 'Don't fail at the same thing more than once,' he says.

A successful Internet entrepreneur talks about why fear can't be a factor when starting a business. Entrepreneurs come in all varieties, Jason Nazar says, but one quality they all share is that they're willing to take risks that others aren't.